IRS Income Data for Cohasset, MN 55721
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 19% | 19% | 21% | 17% | 12% | 11% | 2% |
| Number of returns | 295 | 294 | 326 | 263 | 186 | 165 | 36 |
| Number of joint returns | 33 | 66 | 180 | 192 | 164 | 146 | 35 |
| Number of returns from paid preparer | 149 | 196 | 215 | 165 | 134 | 115 | 32 |
| Total number of exemptions | 241 | 463 | 690 | 652 | 535 | 470 | 112 |
| Total number of dependents | 28 | 77 | 94 | 93 | 91 | 75 | 18 |
| Adjusted gross income | $3,163 | $17,101 | $37,235 | $61,495 | $86,499 | $128,035 | $385,221 |
| Salaries and wages | $4,683 | $11,739 | $24,880 | $43,131 | $64,579 | $92,825 | $225,222 |
| Taxable interest | $173 | $335 | $872 | $1,423 | $1,219 | $2,704 | $7,432 |
| Ordinary dividends | $108 | $213 | $574 | $850 | $1,103 | $1,647 | $8,833 |
| Business or professional net income | $-95 | $1,095 | $1,448 | $1,245 | $558 | $2,304 | $0 |
| Net capital gain | $48 | $178 | $66 | $576 | $801 | $2,785 | $39,331 |
| Taxable individual retirement account distributions | $0 | $811 | $2,039 | $2,633 | $1,931 | $3,886 | $0 |
| Taxable pensions and annuities | $346 | $2,874 | $6,047 | $7,515 | $9,519 | $11,948 | $0 |
| Unemployment compensation | $0 | $445 | $585 | $1,031 | $1,139 | $0 | $0 |
| Taxable Social Security benefits | $0 | $76 | $1,457 | $3,105 | $3,552 | $4,713 | $0 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $974 | $1,876 | $4,481 | $9,592 | $15,908 | $22,449 | $66,757 |
| State and local income taxes | $76 | $99 | $462 | $1,687 | $3,778 | $6,162 | $36,899 |
| State and local general sales tax | $0 | $0 | $48 | $0 | $0 | $0 | $0 |
| Real estate taxes | $109 | $123 | $378 | $1,013 | $1,511 | $2,596 | $4,785 |
| Taxes paid | $190 | $235 | $928 | $2,824 | $5,519 | $8,973 | $41,969 |
| Mortgage interest paid | $0 | $881 | $1,703 | $3,705 | $6,015 | $8,165 | $15,638 |
| Contributions | $0 | $227 | $444 | $1,055 | $1,880 | $2,457 | $7,124 |
| Taxable income | $310 | $4,749 | $18,648 | $38,348 | $57,940 | $93,869 | $308,829 |
| Total tax credits | $0 | $76 | $288 | $743 | $1,058 | $636 | $179 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $21 | $169 | $549 | $770 | $399 | $0 |
| Child and dependent care credit | $0 | $0 | $21 | $0 | $62 | $28 | $0 |
| Earned income credit | $219 | $744 | $193 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $185 | $644 | $152 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $150 | $4,629 |
| Income tax | $30 | $424 | $1,970 | $4,489 | $7,180 | $15,769 | $83,108 |
| Total tax liability | $112 | $648 | $2,255 | $4,766 | $7,485 | $16,024 | $83,913 |
| Tax due at time of filing | $36 | $86 | $207 | $276 | $257 | $793 | $18,167 |
| Overpayments refunded | $-578 | $-1,686 | $-1,858 | $-2,300 | $-2,728 | $-3,085 | $-3,694 |
| Total Tax Liability / AGI | 4% | 4% | 6% | 8% | 9% | 13% | 22% |
All numbers in the table are 2010 averages for that income class and zip code.
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